Iran sanctions: U.S. to give eight countries exemptions
Secretary of State Pompeo said Friday that the U.S. will exempt eight countries from reimposed oil sanctions on Iran.
An unnamed official told Bloomberg, which first reported the list of exemptions, that the waivers will be temporary and it’s unclear if any limit will be placed on the amount of oil allowed to be traded.
The report named half of the countries on the list China, Japan, India and South Korea that will be allowed to still buy oil from the Middle Eastern countries.
Mr. Pompeo did not confirm any of these countries or name any new ones in a conference call with reporters Friday, but did specify that the European Union would not be on the list.
However, these exempt countries were asked to balance out the waivers by cutting back on trading of goods not under sanctions.
All eight countries will be revealed once sanctions go into effect Monday.
The renewed economic pressure on Iran is part of the Trump administration’s plan to curtail Iran’s nuclear and missile programs. President Trump pulled out of the Iran deal in August.